Stewart Title Co., the fourth-largest title company in the US, has more than 6,200 locations across the country that issue title insurance and manage real estate escrow and closing transactions. Like many in this market, the company was swimming in a sea of paper. Although steps had been made towards automating the mortgage closing process through the Sureclose Transaction Platform, that allows parties to share documents and receive updates, Stewart recognized a completely paperless closing process would require e-signatures and e-vaulting.

The challenge was to find a solution that could handle document review, signing, notarization/witnessing, recording, and manage negotiable instruments (mortgage notes). It also needed to be easy-to-use for consumers and notaries and had to be web-based, to provide electronic closing capabilities to anyone, anytime, anywhere.

To address all these requirements, Stewart turned to Silanis Technology. The eClosingRoom, powered by Silanis’ ApproveIt platform, supports the variety of document types and signing environments involved in a mortgage closing. Using only a browser, customers are able to review and e-sign non-notarized documents from the comfort of their home prior to arriving at the closing. This significantly reduces the amount of time spent at the closing table making buyers and sellers happy. At the closing table, parties sign in person using a signature pad while notaries sign with a password-protected file that contains a captured, digitized handwritten signature, the Notarial seal or stamp and a digital certificate.

As the first Title Company to offer an eClosing platform, Stewart Title has forged new ground, making eMortgages a reality. The elimination of paper enables title offices to eliminate the cost and inconvenience of managing paper, reduce errors and omissions and lead to a significant increase in transaction capacity at each office—without adding resources.